THE 2010 PROPERTY PRESERVATION BUSINESS OPPORTUNITY

More Foreclosure Clean Outs Will Be Needed Than Ever Before

Property preservation – performing foreclosure trash outs, repairs and doing ongoing maintenance – had an incredible year in 2009. The second year in a row of historic foreclosure highs meant even new field service companies could earn over $10,000 a week.

In 2010, a year in which the overall American jobs picture is expected to still be bleak, property preservation companies will be busier – and more profitable – than ever. In addition to the continuing escalation of foreclosures, the beginnings of the so-called “shadow inventory” of vacant homes that have yet to be listed for sale or even acknowledged as foreclosures will be put on the market.

This shadow inventory has been estimated at anywhere from 1.7 million homes to as high as 7 million. If it is actually 7 million, that would be over twice as many REO homes that require foreclosure clean outs as were recorded in all of 2009.

The problem of vacant homes in otherwise normal neighborhoods is a big one and growing by leaps and bounds. In addition to these empty untended homes becoming eyesores, thanks to uncared-for lawns, broken windows and graffiti, they also pose public health dangers. Abandoned pools breed mosquitoes that carry disease; rats can overwhelm a vacant property; and transients can just move in with no fear of getting thrown out.

That’s why, more and more, local communities and governments have been demanding property preservation companies be hired to handle these vacant houses – and why, more and more, property preservation will continue to be the biggest foreclosure business opportunity in 2010. The problem these empty homes present can no longer be ignored – and the mortgage companies in charge of them will be forced to take care of them by government and public pressure.

Property preservation is already an incredibly lucrative business for those who know what they’re doing. One nationwide franchise, REO ResQ™, begun about a year ago by foreclosure experts Frank and Scott Patrick, has been training those who want to start a property preservation company in the special demands of this business opportunity. They provide such inside knowledge as what licenses and insurance is required, how to get started, and how to deal with the master contracting companies that often hire property preservation companies.

The Patrick brothers know what they’re doing – between them, they have almost 20 years of experience in the field. They only need a couple of weeks to fully train their new franchisees, so they can get to work making money in the property preservation field ASAP. One couple that began a Las Vegas field services company found themselves grossing almost $90,000 in one month; another Missouri couple made almost $10,000 in one week. And, before they received their property preservation training from REO ResQ™, they had had no experience in the profession.

Costs are fairly minimal if you’re going to start a property preservation company – and your services are definitely in demand in this field. Find out more about the property preservation opportunity at REOResQ.com.

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